By Peter Egwuatu
The shareholders ofNEM Insurance Plc have unanimously endorsed the proposal by its Board of Directors to pay N3.0 billion dividend for the financial year ended December 31, 2023. The dividend represents 60 kobo per N1.00 ordinary shares.
Speaking at the Annual General Meeting, AGM, of the firm, Mr. Tope Smart, Group Chairman, NEM Insurance, said Despite all the challenges in the operating environment, the company soared higher than ever before, and because of the spectacular insurance revenue generated, our company led the general business during the year under review. This trend of excellent performance is expected to be sustained with the support from all stakeholders and the giant strides demonstrated by the government at all levels to fight corruption, improve security, tackle unemployment, diversify the economy, enhance climate resilience, and boost the living standard of citizens.
Commenting on the performance of the company, Andrew Ikekhua , Managing Director/CEO, NEM Insurance, said Your company did not only meet her target for the year but rose to the number one position in general business insurance market in Nigeria. All our performance indices for the year came positive.
The company recorded a growth rate of 89 in gross premium written which amounted to N62.7billion against N33.4billion recorded in 2022.
